Philippines – Asia Pacific Metalworking Equipment News | Manufacturing | Automation | Quality Control

VS Industry’s Orders From The Philippines Expected To Reap RM1.5 Billion From Consumer Electronics Products

Christellee — Fri, 16 Aug 2024 03:20:16 +0000

VS Industry Bhd (VS Industry) has secured new orders in the Philippines with an aggregate value of RM1.5 billion over the next two financial years, Bernama reported.

The electronics manufacturing services provider said its wholly-owned subsidiary, VS Industry Philippines Inc secured new orders from a key customer to manufacture selected consumer electronics products on box-build assembly basis, that is, provision of end-to-end processes from production to assembly, testing, packaging, labelling and logistics arrangement.

It said the expected revenue contribution from the customer based on the recurring nature of the orders is RM300 million for the financial year ending 31 July 2025 (FY2025) and RM1.2 billion for FY2026.

“This is derived from anticipated sales volume and pricing, bringing the aggregate expected revenue over the next two financial years to be RM1.5 billion,” it said in a statement.

Managing Director Datuk SY Gan said the company wants to hit the ground running at the facility in the Philippines and targets to commence mass production by the Q1 2025. To fulfil the new orders, VS Industry Philippines has also entered into a lease agreement with ALogis Artico, Inc for the lease of 52,782 sqm within a factory building located in Batangas.

He added the company has strategically chosen an asset-light model for its venture in the Philippines as a core element of our risk management strategy.

“Hence, the group’s facility in the Philippines is rented, which significantly lowers our financial commitment. The group has allocated around RM100 million for capital expenditure, which would be funded through internally generated funds. Installation of the machine shall commence soon with trial runs to proceed thereafter,” he said.

The lease shall be for a term of five years commencing from 2 September 2024, with an option to renew for a further five years upon terms to be mutually agreed upon.

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Southeast Asia Set To Overtake China In Growth And FDI

Christellee — Mon, 05 Aug 2024 04:24:54 +0000

Southeast Asia is poised to overtake China in gross domestic product (GDP) and foreign direct investment (FDI) over the next 10 years, according to the “Navigating High Winds: Southeast Asia Outlook 2024 – 34” report.

Source: The Nation Thailand

Top six economies in Southeast Asia – Vietnam, the Philippines, Indonesia, Malaysia, Thailand, and Singapore (SEA-6) – are projected to grow at an average annual rate of 5.1%, outperforming China.Released on 1 August 2024 by the Angsana Council, Bain & Company, and DBS Bank.

A key factor driving this surge is a significant increase in FDI. For the first time in a decade, Southeast Asia attracted more FDI than China in 2023. Southeast Asia’s FDI amounted to US$206 billion while China received $43 billion. This represents a 37% growth in FDI for Southeast Asia between 2018 and 2022, compared to China’s 10%.

“Southeast Asia is experiencing a transformative shift,” said Charles Ormiston, Advisory Partner at Bain & Company and Chair of the Angsana Council. “Strong domestic growth coupled with the region’s strategic location has made it an increasingly attractive destination for global investors.”

While Southeast Asia has historically lagged behind economic powerhouses like China and India, it is now positioned for a period of rapid growth. The report highlights several factors contributing to this transformation:

Strong domestic investment: Businesses are increasingly investing in Southeast Asia, fuelling economic expansion.
Diversified economy: The region is expanding beyond traditional industries, with growth in sectors like technology, manufacturing, and services.
Favourable demographics: Countries like the Philippines are benefiting from a young and growing population.

Vietnam is leading the region’s growth, followed closely by the Philippines and Indonesia. Vietnam and the Philippines are expected to exceed 6% growth, with Indonesia close behind at 5.7%. Malaysia follows at 4.5%, while Thailand and Singapore are projected to grow at 2.8% and 2.5%, respectively.

Taimur Baig, DBS Bank Managing Director and chief economist, expressed optimism about the region’s prospects.

“The world is changing, and Southeast Asia is well-positioned to capitalise on these shifts. With the right policies and investments, the region can achieve even greater heights,” he said.

Southeast Asia — Transition From Resurgence To Growth

The Philippines is set for robust growth at 6.1%, driven by a government committed to development, especially in infrastructure and renewable energy projects. Unlike Singapore and Thailand, the Philippines stands to gain from its favourable demographics. Indonesia’s economy is predicted to expand by 5.7%, with room for even higher growth. This potential stems from its rich natural resources, growing population, and vibrant startup scene.

To fully capitalise on these advantages, Indonesia needs to broaden its economic base beyond raw materials and foster a more open, competitive business environment. Malaysia’s projected 4.5% growth rate is underpinned by its renewed focus on attracting foreign investment, particularly in established sectors like semiconductors. The country is also well-positioned to benefit from spillover effects from Singapore, notably in the expanding data centre industry.

In fact, Malaysia could potentially more than double Singapore’s current data centre capacity, challenging the city-state’s regional dominance in this sector. While Thailand’s growth forecast is more modest compared to its regional counterparts, the country still holds considerable promise.

Its economic strengths include a recovering tourism industry, a well-established position as a regional automotive manufacturing hub with solid infrastructure, and the presence of conglomerates with a strong regional focus, the report said.

Looking ahead, to accelerate growth, the experts pointed out that SEA-6 needed to adopt strategies to redirect resources, make bold policy changes and take risks in some issues such as infrastructure development, education, and environmental sustainability to fully realise its potential.

The report also identifies five key opportunities to accelerate growth in Southeast Asia. These include investing in emerging growth sectors, encouraging technology-enabled disruptors, strengthening capital markets and increasing investment, accelerating the green transition, and supporting multilateral initiatives.

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Chinese Enterprises Eye Manufacturing Opportunities In The Philippines

Christellee — Fri, 19 Jul 2024 09:41:35 +0000

It seems Malaysia is not the only destination of choice for Chinese businesses for manufacturing; Philippines has also won some investor interests.

Foreign companies are moving their manufacturing facilities out of China to establish production hubs in other countries as trade tensions continue to brew between China and the US. Malaysia, the world’s sixth largest exporter of semiconductors in the world, has greatly benefited from this strategy known as China Plus One, where companies diversify their business outside of China.

Malaysia has a 50-year edge in the sector given that Intel established its first international manufacturing plant in the northern state of Penang. Intel is also building another factory in Penang that will be the US States chip giant firm’s overseas facility for advanced 3D chip packaging. Malaysia is on a particularly attractive spot given that many semiconductor and electric vehicle companies relocating to Southeast Asia to bypass trade restrictions and strengthen their supply chains.

The country has an existing ecosystem in Penang and the neighbouring Kulim in Kedah. This provides an option for technology companies seeking to date-risk amidst intense rivalries between the US and China over cutting-edge technologies.

Philippines — The Alternative Location

It seems Philippines is also attracting attention from Chinese enterprises, Manufacturing Asia noted. JLL, a global real estate company, states that companies are diversifying their manufacturing locations across India and Southeast Asia, including the Philippines, to offset supply chain disruptions in China.

China has dominated global manufacturing for decades. However, JLL noted that companies are “increasingly diversifying their operations elsewhere, adding manufacturing bases outside of China to hedge against supply chain disruptions.” Rising costs in China, the firm said, have pushed manufacturers to expand to other countries, with land prices in China being up to twice higher than in Southeast Asian countries and India.

Michael Ignatiadis, JLL Asia Pacific Head of Manufacturing Strategy stated that diversification within supply chains is a natural step for companies involved in manufacturing within the wider economic lifecycle of Southeast Asia and India. The Philippines, in particular, has caught the attention of the US with its inclusion in the CHIPS Act, which aims to expand and diversify the semiconductor supply chain such as integrated circuits, RF/microwave, and assembly and testing services.

JLL also noted the record-high of US$49.1 billion in electronics exports in 2022, including consumer and industrial electronics, as well as telecommunication equipment. The firm, added the manufacturing sector should make a careful evaluation of non-cost or qualitative factors when deciding to diversify.

Skilled labour, infrastructure, environmental regulations, proximity to suppliers and political stability are all crucial for long-term success and sustainability in manufacturing operations. Peter Guevarra JLL Asia Pacific Director and research consultancy said that each economy in Southeast Asia is at a different level of its manufacturing storey.

“But we can confidently say that policymakers are extremely keen to take advantage of diversification initiatives of supply chains,” he stressed.

Companies must also carefully evaluate various factors such as costs, market access, infrastructure, labour and governmental support before making investment decisions.

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Southeast Asia Smartphone Market’s Top Position Owned By Samsung

Christellee — Mon, 25 Mar 2024 06:50:21 +0000

Southeast Asia smartphone market had Samsung take top spot in January after losing its spot in end 2023, despite increasing popularity of Chinese brands, according to Canalys.

Source: Chosun.com

Southeast Asia enjoyed increasing popularity of Chinese brands, and it caused Samsung’s shipment volume and market share to decrease compared to the same period last year. Canalys’ findings revealed a total of 7.26 million smartphones were shipped in January from five Southeast Asian countries, including Indonesia, the Philippines, Thailand, Vietnam, and Malaysia. It marks a 20% increase in shipment volume compared to the same period last year.

Among these, Samsung Electronics has shipped 1.5 million units, fueled by the popularity of the Galaxy S24 series. As a result, the company has achieved a market share of 20% , securing the first rank. Samsung had lost the top spot in Southeast Asia to the Chinese company Transsion in December last year but managed to regain it within a month.

According to market research firm, Canalys, the overall economic recovery in Southeast Asia has led to an increase in smartphone demand. Rising interest in Galaxy’s AI (Artificial Intelligence) technology has been a positive factor as well. Xiaomi secured the second spot in the market with a share of 18%, followed by Transsion and Oppo, both with a share of 15%. Vivo came in fifth with 12%.

However, Samsung Electronics is lagging behind Chinese companies in terms of growth. In January, Samsung’s smartphone shipments in Southeast Asia declined by 11% year-on-year, and its market share dropped by 7 percentage points to 20% from 27% in January of the last year.

On the contrary, Xiaomi’s shipment volume surged by 128% during the same period, and Transsion’s shipments exploded by 190%, challenging Samsung Electronics.

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Malaysia Hardest Hit With ASEAN Manufacturing Activity Slows Further In October

Christellee — Fri, 17 Nov 2023 00:32:29 +0000

Indonesia and the Philippines were the only nations registering improving conditions last month, and Malaysia was the hardest hit.

Southeast Asia’s manufacturing sector continued to contract in October as new businesses slump for two months in a row, an industry survey by S&P Global showed. The headline ASEAN manufacturing purchasing managers’ index (PMI) remained unchanged at 49.6 last month, signaling marginal deterioration in the overall health of the sector, according to S&P.

The headline figure dipped below the neutral mark of 50.0, which separates contraction from expansion, for the second month running as five of the seven ASEAN nations surveyed posted contraction in October 2023. Malaysia remained the hardest hit with an unchanged PMI of 46.8 in October that marked its fourth consecutive months of shrinking factory activity. This was followed by Thailand (47.5) and Singapore (48.6), while the downturn was relatively softer in Myanmar (49) and Vietnam (49.6).

Indonesia and the Philippines were the only nations that saw their local manufacturing industries improve in October with a headline PMI of 51.5 and 52.4, respectively. S&P traced the region’s extended manufacturing slump to declining new orders and a sustained slowdown in output. This prompted factories to cut back on their buying activity for the first time in over two years, draining their inventories.

“If demand continues to soften, we could see manufacturers reducing their output in the coming months,” said Maryam Baluch, economist at S&P Global Market Intelligence.

On a positive note, the market slowdown helped temper inflation as seen in costs of input materials and output prices rising at muted rates. ASEAN manufacturers remained optimistic that production will continue to grow in the coming year despite weakening market conditions. The level of confidence, however, was lower than historical average.

“Global economic headwinds continue to cloud the outlook, including the subdued economic recovery in China and the lagging effects of monetary policy tightening across the majority of the ASEAN constituents and elsewhere,” Baluch said.

S&P Global said Malaysian manufacturers experienced a challenging business environment again at the start of the final quarter of 2023 as demand conditions continued to wane. It noted that new orders moderated and production was scaled back. Employment also eased, but firms were still able to deplete backlogs of work to the greatest extent since the survey began in July 2012.

As at 16 November 2023, the ringgit reportedly closed easier against the US dollar as the greenback rebounded from an over two-month low earlier this week on the back of a stronger-than-expected US retail sales data.

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Russia Explores Exporting Metalworking Products To The Philippines

Christellee — Tue, 29 Aug 2023 02:55:59 +0000

This was discussed between the Russian Trade Mission in the Philippines with representatives of the Federation of Metalworkers of the country and companies that buy rolled metal products. This is announced in the account of the Russian representation in the Philippine Islands, as reported by TASS.

Source: TV BRICS

“The Russian Trade Representation in the Philippines together with the Embassy took part in the opening ceremony of the main industry exhibition in the field of metalworking Philippine Die & Mould Machines and Equipment Exhibition. Within the framework of the event, negotiations were held with the leadership of the Federation of Metalworkers of the Philippines, as well as local companies – importers of metal products,” said representatives of the department.

Nowadays metals are the main component of the Russian-Philippine trade turnover, the Filipinos show great interest in strengthening and expanding cooperation. The Philippines imports almost US5.5 billion worth of metal products every year, and the demand for imports is only growing. The main suppliers have traditionally been neighbouring countries, including China.

The Philippine authorities understand the impact on the country’s industry of not having its own steel production, including hot-rolled coil, hot-rolled plate, and cold-rolled coil. This is why Manila is looking to expand cooperation with Moscow in this area.

The Philippine Chamber of Mines, in particular, is open to contacts with Russian representatives of the metalworking industry, for example, in the processing of nickel ore.

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Ayala Joins Forces With BYD On Charging Stations In Philippines

Christellee — Tue, 22 Aug 2023 08:14:26 +0000

AYALA Corporation inked the deal as the new official distributor of BYD vehicles in the Philippines as reported by Manila Times. EV owners can expect more BYD charging stations in both public (malls) and private (condominiums, residential developments) properties that are owned and managed by Ayala Corp. and its subsidiaries.

BYD is a world leader in hybrid and pure electric vehicles, with 30 established industrial parks across six continents. The distribution agreement papers were inked and subsequently disclosed to the Securities and Exchange Commission on 11 August 2023.

Representing the Ayala Group to announce the new venture were AC Motor’s new president, Jaime Alfonso Zobel, and AC Motors Automotive Group’s former president and now Head for Distribution and Retail, Antonio “Toti” Zara. Representing BYD were Liu Xueliang, General Manager of BYD Asia Pacific Auto Sales Division and president of BYD Japan, and James Ng, the Managing Director of BYD Philippines and Singapore.

The acquisition of BYD is in line with Ayala Corporation’s goal of accelerating the future of mobility in the country. With the group’s stake in renewable power generation, automotive distribution and dealerships, property development and management, manufacturing, financing and insurance, and digital connectivity — the young Zobel believes that the Ayala portfolio is in a unique position to provide long-term value to customers by providing not just vehicles but complete ecosystems to make the use of new energy vehicles more viable.

As confirmed by Zobel, Zara will lead BYD Philippines, serving as President and Chief Executive Officer, and will be in charge of building the BYD brand and furthering the Ayala new energy ecosystem. Zara confirmed that aside from continuing to offer BYD’s existing nameplates, the Han (sedan), Tang (SUV), and Dolphin (subcompact hatch), their group will be introducing the ATTO 3 compact SUV toward the end of the year.

The ATTO 3 is a highly awarded EV model that is recognised globally for its outstanding design, comfort, quality, practicality and performance. It will be the most affordable vehicle among the company’s fully electric offerings. According to Zara, with BYD, they will be able to offer fully electric vehicles at prices more Filipinos can afford.

BYD currently has two dealerships in Metro Manila. The new company plans to expand to around 12 fully operational facilities by the end of 12 months and eventually grow this number to 40 outlets around the country.

On the infrastructure side, the group will continue to add more charging stations in both public (malls) and private (condominiums, residential developments) properties that are owned and managed by Ayala Corp. and its subsidiaries.

With this plan in place, Philippines metalworking players can look forward to a hike in charging stations which entail a heightened demand for manufacturing tools for fabricating charging station’s housing and enclosure with appropriate materials (e.g., metal, plastic) through processes like injection molding, sheet metal forming, or casting.

Others include assembling the charging stations by integrating components such as the charging interface, cable management, safety systems, electronics, user interface, softwares to control the charging station’s operations, even maintenance and updates.

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China’s Yadea To Invest US$1 Billion For EV Battery Plant In Philippines

Christellee — Thu, 22 Jun 2023 07:01:45 +0000

China’s Yadea Group Holdings, one of the world’s biggest electric two-wheeled vehicle makers, plans to invest about US$1 billion in an e-motorcycle factory in the Philippines, the country’s investment promotions agency chief said.

Source: Reuters

Yadea is one of a several electric vehicle (EV) manufacturers looking at the Southeast Asian nation for expansion of their manufacturing sites, Tereso Panga, director-general of government-run Philippine Economic Zone Authority (PEZA), told the media.

Yadea, which has six production hubs in China and one in Vietnam with an annual capacity of more than 12 million vehicles, did not immediately respond to a request for comment. It has already signified its interest to file an application to PEZA for a factory in Batangas located south of the capital, Manila, Panga said.

It will have an annual production capacity of 3 million to 5 million units that will cater to domestic demand, with potential for exports, Panga said. The Philippines produced 935,000 motorcycles and scooters in 2022, ASEAN Automotive Federation data show. There were 8.07 million motorcycles registered in the country as of end-2021.

The Philippines, a regional laggard in attracting foreign direct investment, is trying to entice EV manufacturers and export-oriented industries through tax perks and faster processing of permits. It faces big competition from Thailand and Indonesia in the race to court EV makers.

The Philippines is also touting its abundance of nickel, copper and cobalt, which are key raw materials for the EV industry. American and British electric vehicle firms are also scouting for battery and e-motorcycle manufacturing sites, Panga said. PEZA targets a 10% increase in investment approvals this year from ₱140.7 billion (US$2.51 billion) in 2022.

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Vietnam Exports Robotic Surgery Techniques To The Philippines

Christellee — Wed, 01 Mar 2023 08:41:23 +0000

Doctors from Binh Dan Hospital in Ho Chi Minh City assisted their colleagues at Chinese General Hospital and Medical Center (CGHMC) in the Philippines perform robotic surgery for Gastrointestinal cancer — reflecting Vietnam’s medical prowess

Source: Vietnam News Agency (VNA)

Thanks to this technology transfer, doctors of CGHMC Hospital have successfully performed robotic surgery to treat rectal cancer involving a female patient aged 50. She undergone preoperative chemotherapy and percutaneous transverse colectomy due to intestinal obstruction.

The Filipino doctors were impressed with the single docking technique (the robot position remains unchanged from the patient during the operation, with only one placement of the robotic arms) and the skillful dissection technique that is minimally invasive.

“In the past, a case of robotic surgery in colorectal cancer at CGHMC Hospital could take up to 6 hours to perform. Through the guidance of the doctors of Binh Dan Hospital, the surgery according to the new technique only takes 2 hours and 30 minutes to complete,” said Dr Nguyen Phu Huu, who will provide further support and guidance.

There are many cases here and there are presentations to analyse important notes about robotic surgery in gastric cancer, colorectal cancer to help colleagues grasp knowledge and skills. to improve surgery for the patient.

Associate Professor Dr. Tran Vinh Hung, Director of Binh Dan Hospital, said that in October 2019, the hospital’s doctors also transferred robotic surgery to the Philippines General Hospital. International cooperation for technology transfer is identified as one of the spearheads of Binh Dan Hospital in developing into a Robotic Surgery Training Center for domestic and regional hospitals, in line with the goal of building to build a specialized medical center in the ASEAN region of the health sector in Ho Chi Minh City.

Robotic surgery has become increasingly popular in Vietnam in recent years, and many hospitals and medical centers now offer robotic surgical procedures using advanced robotic systems such as the da Vinci Surgical System. According to Vietnam Times, the da Vinci Surgical System is currently among the world’s most advanced robotic surgery system, has been applied in K Hospital.

Robotic surgery systems offer precise, accurate, and easily replicated results that can greatly assist surgeons and improve patient outcomes. The da Vinci Surgical System allows surgeons to perform various minimally invasive procedures with clinically supported precision and accuracy.

The system applies to a wide array of operations, including minimally invasive cardiac, colorectal, gynecology, head and neck, thoracic, urology, and general surgeries. The surgeon operates via the Surgeon Console that controls the Patient Cart’s robotic devices, including various surgical instruments and a camera.

Over 1,700 da Vinci Systems are currently installed in hospitals internationally, and more than 775,000 patients have received procedures from this robotic surgical system.

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Philippines To Cut Tariffs On Electric Vehicles, Parts

Christellee — Mon, 28 Nov 2022 10:07:26 +0000

A Philippine inter-agency panel chaired by President Ferdinand Marcos Jr on Thursday approved removing tariffs on electric vehicles (EVs) to spur demand amid high fuel costs.

By Neil Jerome Morales; Editing by Kanupriya Kapoor

(REUTERS): Marcos will issue an executive order cutting to 0% the most favoured nation tariff on EVs like passengers cars, buses, vans, trucks, motorcycles, and bicycles, and their parts for five years. Current import duties range from 5 — 30 percent.

“The executive order aims to expand market sources and encourage consumers to consider acquiring EVs, improve energy security by reducing dependence on imported fuel, and promote the growth of the domestic EV industry ecosystem,” Economic Planning Secretary Arsenio Balisacan told a news conference.

Consumers in the Philippines currently need to shell out US1,000 to US$49,000 for an EV, versus the US$19,000 to US$26,000 price for conventional vehicles. Tariff rates on hybrid vehicles will not change.

Of the country’s more than five million registered automotives, only 9,000 are electric, mostly passenger vehicles, government data show. Personal EVs account for just 1 percent of the market, and are mostly owned by the extremely wealthy, data from the United States’ International Trade Administration show.

The Southeast Asian nation’s automotive sector relies mostly on imported fuel. It also buys oil and coal abroad for its energy generation needs, making it vulnerable to price volatility.

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